Option trading for a newbie

Quote from Ben74:

No, not this one. I bought them yesterday morning. I was a bit late. I could have had them for $1.00 or under if I took the chance right at the open yesterday.
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I would still say the price you got was excellent as yesterday morning the strike of 17.5 was almost 1 buck in the money so you paid a little more than a dollar was excellent, given the supposedly high IV for earnings right next day. Your method might just be better than the other method where the loss of time value and ITMs becoming OTMs are constant enemies.

What is hard is to pull the trigger (even if you hand me the call before you place the trade!). With the big cushion you have built up, pulling the trigger becomes easy I guess!
 
Quote from frostengine:

Ben,

What are your thoughts towards PLCE?
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Bought some. I bought 10 PLCE March 22.5 calls at $1.35 about 2 hours ago. I should have upped it to 20 calls. Too bad for me. Also bought NKE for earnings.

Ben
 
Ben,

Looks like we took opposite sides on PLCE, I dove in on the 22.50 puts... Although wish I would have waited to get a better price, got in the .60's...

Now that I know you got the calls, I am not feeling very good about this position.
 
Quote from frostengine:

Ben,

Looks like we took opposite sides on PLCE, I dove in on the 22.50 puts... Although wish I would have waited to get a better price, got in the .60's...

Now that I know you got the calls, I am not feeling very good about this position.
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Heck who knows, you might be the one making money, I think I've made enough this year lol. I did buy 10 NKE March 45 calls at $1.60 for ($1,615) too. That's the one I'm watching today.

Ben
 
Closed those 10 PLCE calls at $1.95 for a small gain of $570. I'm still holding NKE calls, and might get out for a gain after all....who knows.

Ben
 
Quote from Ben74:

Closed those 10 PLCE calls at $1.95 for a small gain of $570. I'm still holding NKE calls, and might get out for a gain after all....who knows.

Ben
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Any particular reason why you didn't take a nice profit on NKE calls the day before expiration?
 
Quote from NoDoji:

Any particular reason why you didn't take a nice profit on NKE calls the day before expiration?
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If NKE had just rallied I was hoping for something like +100% on the trade, but as it happened, people freaked out. I still have it though, and was actually at the same gain as yesterday. It's crazy for who ever took the same calls this morning at $0.50. I still have it though, and I will be looking to get out tomorrow hopefully when the market rallies. Otherwise, the win streak comes to an end.

Ben
 
Quote from Ben74:

Closed NKE March calls at $2.45. My gain is small again at just $820.

Ben
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Just curious, but what do you consider a "big gain"? $820 in my book isn't bad, but then again my cost of living is very low.

On average it looks like your just investing around $2-3k, is that about right? Ever thought of scaling into positions and building a bigger base, or is that not compatible with your strategy?


Good job, keep it up!

-troll
 
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